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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Stocks down at opening following jobs data

Stocks are down at opening this morning following disappointing employment news from the private sector.

In the first 30 minutes of trading, the Dow is down four-tenths of 1 percent.

The broader S&P 500 and the tech-heavy Nasdaq are down three-tenths of 1 percent.

The ADP employment report released this morning showed that the private sector unexpectedly shed 23,000 jobs in March. Forecasters expected a gain of 40,000 jobs.

In other news, February factory orders were up 0.6 percent, slightly less than expected.

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By Frank Ahrens  |  March 31, 2010; 10:12 AM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Comments

Anyone know of any research about how well the ADP report correlates with BLS data?

Posted by: pmendez | March 31, 2010 10:52 AM | Report abuse

"The ADP employment report released this morning showed that the private sector unexpectedly shed 23,000 jobs in March. Forecasters expected a gain of 40,000 jobs."

are these 'forecasters' the same people that predicted the stimulus would create 2-4 million jobs or the health care bill would reduce the deficit? me thinks you need knew sources.

Posted by: millionea7 | March 31, 2010 12:19 PM | Report abuse

Does anyone really think "disappointing employment news" has anything to do with stock prices?

Get real.

Posted by: OldHippie | March 31, 2010 12:33 PM | Report abuse

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